"FLOKI Plunges 31.6%: Meme Coin's Bearish Trend Intensifies"

FLOKI, a popular memecoin, has been experiencing a significant downturn in recent weeks, with key factors favoring bearish sentiment. The market structure of FLOKI on both daily and 4-hour charts has been bearish, indicating a strong selling pressure. This trend is further supported by the momentum and volume, which also favor the sellers.

FLOKI has fallen by 31.6% below its November lows, and the entire memecoin sector has witnessed substantial losses. In the past month, the sector has declined by 41.5%. Despite these losses, FLOKI's price has continued to slip, falling below the 78.6% Fibonacci retracement level based on the rally from March 2024. The swing low from February 3rd has emerged as the short-term target due to the prevailing trend, raising the question of how much lower the meme coin can go.

The On-Balance Volume (OBV) indicator has been in a downtrend since November, although it briefly climbed higher in February. However, the downtrend remained intact as it failed to reach a new higher high in 2025. This corresponded with the price action, which has maintained a bearish structure since December. The Relative Strength Index (RSI) on the daily chart has also been bearish since mid-December, with no bullish divergence observed. FLOKI is likely to head toward the February lows at $0.0000713 once again.

The 4-hour chart reveals that a bearish structure has been in play, with FLOKI failing to defend the $0.000086 level as support in the final week of February. This was followed by a retest of $0.000086 as resistance and the formation of a descending channel. A set of lower highs and lower lows have emerged, with the mid-channel level serving as support over the past week. The OBV on the 4-hour chart has been in a steady downtrend, indicating persistent selling volume, while the RSI remains below the neutral 50 level, suggesting that bears are dominant.

Traders can utilize the descending channel to sell FLOKI, with the next support levels identified at $0.0000713 and